RBA Hike Odds Plummet as Aussie Inflation Misses Mark

Australia's August inflation report has come in softer than expected, leading to an unwind of hawkish Reserve Bank of Australia (RBA) pricing.

The Australian dollar (AUD/USD) is testing a key support zone at 0.6964 as the probability of a November RBA hike drops from 44% to 20%

Trimmed mean inflation, which is the RBA's preferred measure, rose 0.2% for the month and 3.6% annually, both modestly undershooting expectations.